The so-called “BRIC” countries of Brazil, Russia, India and China are still generating attractive cargo growth, says the current edition of Drewry’s Container Insight Weekly. “Container traffic loaded and discharged in the BRIC region’s ports in the first half of the year grew by an impressive 7.1 percent year-on-year, up to 90.7 million […]
Speakers at the meeting of the International Union of Marine Insurance in London last week, warned that as use of low-sulfur fuel in ships increases, the likelihood of chronic engine failure could rise due to catalytic fines, or “cat fines,” microscopic particulates that remain in marine fuel oil as a result of the crude oil […]
Swift Transportation, the largest U.S. truckload carrier, estimated that changes to the hours-of-service rules on July 1 has reduced equipment utilization by about 2 percent year-on-year, according to a note from the investment bank Stifel. The note chronicles meetings between Swift’s executive team and members of Stifel’s transportation and logistics research group. Swift […]
Hapag-Lloyd said it had raised 250 million euros (about $337 million) through the sale of bonds to institutional investors. The bond, which has a maturity of five years, has a coupon of 7.75 percent and was several times oversubscribed. The German shipping company said proceeds will be used for general corporate purposes including about 200 […]
The U.S. International Trade Commission on Friday determined that the domestic shrimping industry is not harmed by imports of frozen warmwater shrimp from China, Ecuador, India, Malaysia, and Vietnam, which the Commerce Department had earlier determined are subsidized. Commissioners Daniel R. Pearson, Dean A. Pinkert, David S. Johanson, and Meredith M. Broadbent voted […]
A new report sponsored by DHL encourages fashion shippers to create more sophisticated, dynamic supply chains that can easily shift with consumer demand. Fashion Unleashed: Supply Chain Innovation found online and mobile retailing “has made volatility and complexity the norm rather than the exception in the fashion sector,” according to a press release. […]
The new platform, called Kewill MOVE, is intended to allow Kewill to tap into a wider base of potential users, including deeper offering for beneficial cargo owner (BCO) verticals, the logistics and trade software developer said.
Rickmers Group and funds affiliated with Apollo Global Management have created a joint venture to invest in containerships. The joint venture will initially focus on used vessels and has the capacity to invest up to $500 million, and investments are expected to be made over a period of several years. The firms said […]
The liner carrier MOL said last week it met internal key performance indicators for North America customer service in August in all but three of the 13 areas it tracks on a monthly basis. The three areas the KPI targets weren’t met were U.S.-to-Asia export missed vessel connections due to rail issues, Asia-to-U.S. […]
One week after the T&I Committee presented a reauthorization bill for the Water Resources Development Act, the committee quickly made amendments and voted to send it to the full House for consideration.
Draft amendments to require mandatory verification of gross weight of containers under the SOLAS convention were agreed to on Friday by the IMO’s Subcommittee on Dangerous Goods, Solid Cargoes and Containers.
Company and port authority officials noted the Florida port is closest to Mexico’s fast-growing vehicle manufacturing areas served by the ports of Veracruz and Altamira and offers the quickest transit times to the U.S. market.
Maersk has completed the sale of its drayage provider Bridge Terminal Transport to Platinum Equity for an undisclosed amount. The Charlotte-based firm, which has a network of 1,300 owner-operators, will continue to operate under the Bridge Terminal brand. A Platinum Equity transition team has currently been put in place. “We are excited about […]
In the coming months, Canadian Pacific will shutter its locomotive reliability center at the Alyth Yard in Calgary, eliminating 130 positions. The decision stems from the Canadian Transportation Agency’s order for the railway to stop idling operations and “load testing” near the center at night. Canadian Pacific officials maintain that stopping work between the […]
The council is the principal national advisory committee on international trade, and advises the president on government policies and programs related to U.S. trade and export promotion, including the National Export Initiative.
Tapping into a strategic growth area, DSV Air & Sea has increased the number of U.S. destinations covered by its Everyday air freight offering from the United Kingdom. Starting at $1.50 per kilogram, shippers can now use DSV to book their freight with a variety of carriers to “all major destinations in the […]
Gov. Pat Quinn of Illinois on Thursday praised construction of a new intermodal container terminal at Archer Daniels Midland Co.’s major agricultural processing and headquarters complex in Decatur as a tool for helping boost the state’s economy, “Within a few short years I think we will see the dynamic growth of the inland port. […]
The liner carrier United Arab Shipping Co. (UASC) will use the cloud-based supply chain technology provider GT Nexus to provide transactional e-commerce services, the company said this week. UASC has integrated its operational systems to support bookings, shipping instructions, schedules, and shipment status events for multiple customers through the GT Nexus platform. […]
The U.S. Export-Import Bank this week authorized a pair of direct loans totaling $33.6 million to Abengoa of Seville, Spain, that will facilitate the export of American heat-transfer fluid produced by The Dow Chemical Co. for use in solar projects in Spain and South Africa. Ex-Im Bank’s financing will support about 200 U.S. […]
Registration is now open for U.S. Customs and Border Protection’s annual East Coast Trade Symposium, scheduled for Oct. 24-25 in Washington. The popular event attracts hundreds of trade professionals to rub elbows with CBP officials and learn the latest developments in cargo security, trade processing, and enforcement. This year’s panel topics include the Automated […]
